GBPUSD the fightback begins
The lack of dollar strength in recent sessions has seen the pound claw back some lost ground. With progressive US data in the past week, the market’s final potential shake-up is how aggressive the final US interest rate cut will be for 2025. The greenback could remain on the backfoot at least until the US CPI due this week, with the Fed still trying to reach its targeted 2%. The price hovers above 1.2700, and 1.2800 is the first hurdle to continue the rally.
XAUUSD slips ahead of US inflation
Gold continues its bumpy ride as traders digest last week’s NFP numbers that could influence the Fed’s next interest-rate decision. Looking forward, further US interest rate cut into 2025 could push the yellow metal to record highs further. The precious metal has struggled for direction recently after lower lows hampered a progressive turnaround. The price is above 2580, with 2660 being the central ceiling.
NAS 100 hits another record
The Nasdaq, as well as the S&P, scored record closing highs again, boosted by tech-related shares following the market’s substantial November gains. The slowdown doesn’t seem to be stopping with a market that’s in a seasonably substantial period moving higher. With the uncertainty ahead as a new American administration comes into play, the economic plan as we advance could be a tricky one. 21800 is the next target, with 20800 the first support.
